American Superconductor Corp
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Industrials : Electrical Equipment | Small Cap Growth
Company profile

American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company operates through two segments: Wind and Grid. Through the Company's Windtec Solutions brand, the Wind business segment enables manufacturers to field wind turbines. Through the Company's Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power. AMSC supplies power electronics and control systems, licenses its engineered wind turbine designs and provides customer support services to wind turbine manufacturers. The Company provides a range of power electronics and software-based control systems. AMSC provides transmission planning services that enable it to identify power grid congestion and other risks. The Company also sells grid interconnection solutions for wind farms and solar power plants, power quality systems, and transmission and distribution cable systems.

Closing Price
$23.76
Day's Change
-0.735 (-3.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
24.50
Day's Low
23.19
Volume
(Light)
Volume:
445,746

10-day average volume:
629,821
445,746

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against First American Financial Corporation (FAF)

11:52 am ET November 18, 2020 (Globe Newswire) Print

Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming December 24, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired First American Financial Corporation ("First American Financial" or the "Company") (NYSE: FAF) securities between February 17, 2017 and October 22, 2020, inclusive (the "Class Period").

If you suffered a loss on your First American Financial investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/first-american-financial-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On May 24, 2019, KrebsOnSecurity reported that the Company's website "leaked hundreds of millions of documents related to mortgage deals going back to 2003." The records included bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and driver's license images--all of which "were available without authentication to anyone with a Web browser." Approximately 885 million records were exposed.

On this news, the Company's share price fell $3.31, or 6%, to close at $49.52 per share on May 28, 2019, thereby injuring investors.

On October 22, 2020, First American Financial disclosed that it had received a Wells Notice from the SEC, regarding a preliminary determination to file an enforcement action against the Company related to the security breach. The SEC questioned the adequacy of the Company's disclosures at the time of the incident and the adequacy of its disclosure controls.

On this news, the Company's share price fell $4.83 per share, or 9%, to close at $46.75 per share on October 22, 2020, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company failed to implement basic security standards to protect its customers' sensitive personal information and data; (2) First American Financial faced a heightened risk of cybersecurity failure due to its automation and efficiency initiatives; and (3) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired First American Financial securities during the Class Period, you may move the Court no later than December 24, 2020 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Glancy Prongay & Murray LLP, Los Angeles

Charles H. Linehan, 310-201-9150 or 888-773-9224

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

www.glancylaw.com

shareholders@glancylaw.com

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